Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement on reports of China retaliating to new tariffs imposed by the Trump administration by devaluing its currency and blocking purchases of all U.S. agriculture products:
“President Trump on Thursday announced he would impose an additional 10 percent tariff on $300 billion worth of Chinese goods. Not surprisingly, reports now indicate that China will respond in kind.
“California is the largest agriculture producing state and our farmers can’t afford to continue being collateral damage in this tit-for-tat trade war. It’s time for the administration to reverse course before this trade war gets even further out of hand.
“China, which purchases more than $2 billion annually in California agriculture products including wine, nuts and berries, is one of the largest markets for our farmers. That market is now closed, meaning that our farmers can’t compete and will suffer financially.
“And it’s not just hurting farmers. U.S. exports to China dropped by nearly 20 percent in the first half of the year and the new tariffs will hit more California products such as electronics. The trade war is slowing the global economy, one of the key reasons the Federal Reserve was forced to cut interest rates last week.
“We can’t keep shooting ourselves in the foot. American families are suffering from the president’s trade policies. With no deal in sight, I call on the president to cease and desist with his trade war and look for new ways to engage with China.”